Weekly Market Report: Monday, February 25th, 2024, to Friday, March 29th, 2024.

Good day, traders!

Welcome to this week's edition of our weekly market review, where we share with you some important data and highlight major market events that occurred during the trading week as they relate to DXY, Dow Jones (US30), and the Nasdaq (NAS100).

DXY

  • Overall Percentage loss of the week: -0.05%
  • Total pips gain of the week: Overall, only about 5 pips was lost this week.
  • Fluctuations of price during the week: The price range for this week on DXY was between the high of 104.672 and low of 104.406.

This trading week marked the last trading week of March.

This week was packed with some high-impact news releases that had little effect on the DXY and indices. Price ranged for only about 26 pips. The high-impact news releases this week included the Unemployment Claim, FOMC, Fed Chair Powell speaking and so on.

Price movement this week initially was in a bearish trend on Monday. However, this bearish trend was cut short as price resumed a bullish trend on Tuesday and then gapped up. However, the week closed bearish. There was no trading activity on Friday due to the Easter public holiday.

Dow Jones (US30)

  • Overall Percentage gain of the week: +0.88%
  • Total Points gained this week: a massive 346 points were gained overall, over the four trading days.
  • Fluctuations of price during the week: With an opening price of the week on Monday  at 39457.88, the DOW started off with an impulsive bearish move on Monday. However, this bearish movement was cut short as a result of the bullish trend that began on Tuesday. Further impulsive bullish movement propelled by news releases was also witnessed. Price then closed on Thursday at 39804.47.

The price action of the DOW this week ended up bullish.

Top three gainers this week: 3M Co (+1.415%), Walt Disney Co (+1.141%), and Verizon Communications Inc (+1.011%).

Three Biggest losses this week: Apple Inc (-1.056%), Walmart Inc (-0.906%), and Amgen Inc (-0.692%).

Nasdaq (NAS100)

  • Overall Percentage loss of the week: -0.59%.
  • Total Points lost this week: about 108 points were lost this week.
  • Fluctuations of price during the week: With an opening price at 18356.46 on Monday, the NASDAQ correctively moved downward till Thursday and closed for the week at 18248.30.

This week in the end was a bearish move.

Top three Gainers this week: Walgreens Boots Alliance Inc (+3.187%), Old Dominion Freight Line Inc (+2.497%), and Analog Devices Inc (+2.307%).

Three Biggest losses for the week: Moderna Inc (-3.644%), ON Semiconductor Corp (-2.725%), and Tesla Inc (-2.247%).

Despite minor fluctuations, the DXY experienced marginal losses, while the Dow Jones demonstrated resilience with a notable gain. 

On the other hand, the Nasdaq faced a moderate decline. High-impact news releases influenced market sentiment, albeit with limited impact on indices. 

Notably, the DOW displayed a bullish trend amidst initial bearish sentiment. As the week concluded, the Nasdaq ended on a bearish note


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